KoreaCategory

The Bank of Korea plans to execute the R3 consortium proof-of-concept blockchain technology project. Kim Jung-hyuk, head of the e-finance planning team for the bank’s financial supervisory service, announced the project at the Digital Money 2017 conference, according to EconoTimes. (more…)

Non-financial technology companies with a growing expertise in FinTech (financial technology) will play a bigger role in shaping South Korea’s financial industry, according to the country’s central bank. (more…)

Korean Fintech startup Blocko’s blockchain-as-a-service (BaaS) middleware platform Coinstack has received the state-authorized ‘First Class Gold Software (GS) Certificate’. The recognition that could conceivably see adoption of its blockchain toolkit among public agencies. (more…)

The Monetary Authority of Singapore (MAS) and the Korean Financial Services Commission (KFSC) today signed a cooperation agreement to foster greater cooperation in FinTech. The signing took place at the sidelines of the FinTech Demo Day organised by the Korean FinTech Centre. (more…)

Britain and South Korea have established a “fintech bridge” intended to make it easier for both countries to invest in the burgeoning financial technology sector, the British Treasury said on Friday. (more…)

GROOVEMAESTRO: The Korean Government has announced “Plans for Boosting Investments” at the 8th Meeting Promoting Trade and Investment chaired by the President Park on July 9th. The plans are developed to encourage investments in sectors such as tourism, venture, and construction where growths can be accelerated.

Fastcompany: South Korean Team Takes $2 Million Top Prize At DARPA Robotics Challenge. DARPA wants to inspire the creation of robots capable of disaster recovery. But there’s a long way to go and a lot of work still to do.

TECHINASIA: Tumblbug, a South Korean crowdfunding platform for the creative arts, announced today it has raised KRW 17 billion (just over US$15.5 million) in series A investment, according to BeSUCCESS. The funding comes from DCM, Strong Ventures, and Naver, the maker of messaging app Line. (more…)

Fintech Demo Day is the first event jointly hosted by Marvelstone Partners, Life.SREDA VC and Yozma Group Asiafor the selected fintech startups to provide demo for panel of judges and investors in Korea. The purpose of this even is to search for competitive fintech companies in Korea and introduce the hosting VCs to the fintech industry and startups in Korea. (more…)

The Korea Bizwire: South Korea’s top financial regulator said Wednesday that it will pave the way for local banks to invest in financial technology firms as part of its efforts to boost the integration of the two industries. According to current financial laws, financial institutions are allowed to buy stakes in or make contributions only to companies in the same business sector. (more…)

The Paypers: South Korea’s central bank has revealed plans to develop standards for biometric identification that is used to authenticate digital transactions. The Bank of Korea revealed that the Committee on Financial Informatization Promotion (CFIP) will develop the technical standards before the end of H1 2015, and then test such services in H2 with domestic commercial banks. (more…)

Business Insider: Samsung will release Samsung Pay in the second half of 2015, according to statements made by Samsung Electronics managing director Park Jin-young obtained by Korean news site, WhowiredKorea.(more…)

FORBES: How KakaoTalk’s founder ignited a global messaging war. Kim Beom-Su, the son of a factory worker and a hotel maid, has become a billionaire by building a technological empire. Why is it difficult to grow outside of South Korea?